GF vs ING: Correlation
How closely do New Germany Fund, Inc. (The) (GF) and ING Group, N.V. (ING) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GF and ING?
Over the past 3 years, GF and ING moved with a correlation of 0.67, which is strong. The past 12 months show a weaker link (0.57) than the 3-year average (0.67). Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 383.7 %².
By 3-year correlation, ING places #5 of the 14 assets tracked against GF. Their recent paths diverged sharply: over the last 12 months ING outperformed by 49.7 percentage points (+2.8% for GF against +52.5% for ING).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
GF vs ING: side by side
| GF (New Germany Fund, Inc. (The)) | ING (ING Group, N.V.) | |
|---|---|---|
| 1-year return | +2.8% | +52.5% |
| 5-year return | -16.5% | +269.9% |
| Volatility (ann.) | 20.9% | 27.5% |
| Beta vs S&P 500 | 0.76 | 0.94 |
| Max drawdown (3Y) | -18.1% | -19.9% |
| Market cap | – | $100.1B |
| P/E (trailing) | 3.4 | 13.2 |
| Dividend yield | 1.29% | 3.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GF | ING |
|---|---|---|
| 2022 | -42.2% | -4.2% |
| 2023 | +11.7% | +31.9% |
| 2024 | -10.0% | +12.2% |
| 2025 | +48.3% | +88.3% |
| 2026 | +3.9% | +30.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GF and ING good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GF and ING?
The GF/ING correlation stands at 0.67 on a 3-year window (1 year: 0.57, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is ING a good diversifier for GF?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
A reading of 0.67 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gf-vs-ing.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gf-vs-ing/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GF correlations · ING correlations
